make more married???
Discussion in 'Trucker Taxes and Truck Financing' started by zackery2011, Nov 11, 2014.
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I doubt you would have any tax benefit for 2014. Does she file. You didn't mention if she gets a refund. You might be money ahead filing separate returns. Good luck
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A kind word of advice.........if you get married.........STAY married......the divorce plan will make you poor quick.
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it really is, isn't it?bergy Thanks this.
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There aren't really any tax incentives for getting married at all unless there is a major difference in income between the couple. When you file jointly, tax brackets, standard deductions, etc. simply double.
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marriage is the biggest mistake you can make if you're only doing it for financial incentives. The divorce rate is %50 and it's not a good business decision. Marriage is a dying tradition - it belongs in the 20th century
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Have you thought about changing employers? I'm thinking that might be a better alternative financially then the marriage route.
zmpart Thanks this. -
It's cheaper to keep her. all kidding aside you need to to a to a c.p.a.
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Not true. The deductions increase because you can claim your spouse, and the tax brackets greatly favor a married couple. Example, the 15% tax bracket cuts off at $753 per week after allowances (for both husband and wife's income), and it cuts off at $1582 per week after allowances (for both husband and wife's income). If you and your spouse each make $1000/week and file as single, each person will have $160 in Federal tax with holdings (0 allowances). If you and your spouse file as married, each person would have $109 with held weekly. Difference of $102 per week for the couple in federal with holdings. Some quick math says a savings of $5300 in Federal with holdings for the couple for the year.
BUT - if you are only going to gross $20K this year, you will not pay anything in Federal income tax, and you may well show a net loss on the year. How do companies get away with paying first year drivers sub poverty wages??? Our industry is screwed up.
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